Welcome to our dedicated page for Optical Cable news (Ticker: OCC), a resource for investors and traders seeking the latest updates and insights on Optical Cable stock.
Optical Cable Corporation manufactures fiber optic and copper data communication cabling and connectivity solutions for enterprise, data center, wireless carrier, harsh environment and specialty markets. Its updates commonly cover quarterly and annual results, net sales trends, gross profit, manufacturing operating leverage and demand conditions across enterprise, military, severe duty and other target markets.
Company news also includes conference-call announcements, product-solution initiatives and strategic collaboration activity, including the relationship with Lightera to expand offerings for data center and enterprise customers. OCC describes its products as integrated suites that operate as system solutions or integrate with other network components.
Optical Cable Corporation (OCC) reported its third-quarter financial results for fiscal year 2022, showing a 11.2% increase in net sales to $17.4 million, and a 17.6% rise in gross profit to $4.8 million. The company noted strong demand in specialty markets, particularly wireless carriers, despite challenges in the enterprise market. The gross profit margin improved to 27.7%. However, OCC recorded a net loss of $372,000 compared to a net income of $5.4 million last year. For the first nine months, net sales rose 13.3% to $49 million, but the company faced rising costs and a net loss of $1.5 million.
Optical Cable Corporation (Nasdaq GM: OCC) will release its third quarter fiscal results on September 12, 2022, covering the three and nine-month periods ending July 31, 2022. A conference call will follow at 10:00 a.m. Eastern Time. Interested participants can dial in at (800) 225-9448 in the U.S. or (203) 518-9856 internationally, using Conference ID: OCCQ322. A replay of the call will be available until September 19, 2022, and will also be streamed live on the company's website.
Optical Cable Corporation (OCC) reported a 9.3% year-over-year increase in net sales for Q2 2022, totaling $17.2 million, driven by demand in enterprise and specialty markets. Gross profit rose 4.4% to $5.0 million, with a margin of 29.3%. However, the company faced a net loss of $228,000 or $0.03 per share, down from a profit of $3.4 million or $0.45 in Q2 2021. SG&A expenses increased to $5.0 million, reflecting higher personnel costs. The first half of 2022 saw a 14.6% revenue boost to $31.6 million, but net loss accumulated to $1.2 million.
Optical Cable Corporation (Nasdaq GM: OCC) will announce its second quarter results for fiscal year 2022 on June 13, 2022. This will cover the three- and six-month periods ended April 30, 2022. A conference call is scheduled for 10:00 a.m. Eastern Time on the same day, where analysts and investors can engage in Q&A. Participants can dial in at (800) 909-7113 (U.S.) or (785) 424-1677 (internationally) with the Conference ID: OCCQ222. A replay will be available until June 20, 2022.
Optical Cable Corporation (OCC) reported a 21.6% increase in net sales, totaling $14.4 million for Q1 2022, up from $11.9 million in Q1 2021. Gross profit surged 75.2% to $4.0 million, with a gross profit margin rising to 28.0%. However, the company faced a net loss of $936,000 ($0.12 per share), compared to a $2.1 million loss in the previous year. Increased SG&A expenses, reaching $4.8 million, primarily stemmed from personnel costs. OCC's backlog remains strong, indicating solid future demand despite ongoing supply chain challenges.
Optical Cable Corporation (Nasdaq GM: OCC) will release its first quarter fiscal year 2022 results on March 17, 2022, covering the period ending January 31, 2022. A conference call will take place at 10:00 a.m. Eastern Time for analysts and investors, with dial-in details provided. OCC, a manufacturer of fiber optic and copper cabling solutions, has facilities in Roanoke, Virginia, Asheville, North Carolina, and Dallas, Texas. The company invites individual investors to submit questions in advance for discussion during the call.
Optical Cable Corporation (OCC) reported a 14.4% increase in fourth quarter net sales, reaching $15.9 million, compared to $13.9 million last year. Gross profit rose 20.0% to $5.1 million, with a gross profit margin increase to 31.8%. For fiscal year 2021, net sales increased 7.0% to $59.1 million, with a net income of $6.6 million, a turnaround from a loss in the previous year. OCC benefitted from a $5.0 million gain on debt extinguishment and $4.3 million from employee retention tax credits, fostering optimism for future growth.
Optical Cable Corporation (OCC) will release its fourth quarter and fiscal year 2021 results on December 20, 2021, after the three-month and twelve-month periods ending October 31, 2021. A conference call will occur at 10:00 a.m. Eastern Time on the same day, allowing analysts and investors to participate by phone or online. OCC manufactures diverse fiber optic and copper cabling solutions for various markets, boasting facilities that are ISO certified. Further details are available on their investor relations website.
Optical Cable Corporation (Nasdaq GM: OCC) reported a 14.6% increase in consolidated net sales for Q3 2021, reaching $15.6 million compared to $13.6 million in Q3 2020. The gross profit also grew by 17.8% to $4.1 million. Net income shifted to $5.4 million or $0.71 per share, contrasting sharply with a $1.4 million loss in the prior year. Factors contributing to this growth included lifting COVID-19 restrictions and an increase in sales order backlog.
On September 9, 2021, Optical Cable Corporation (Nasdaq GM: OCC) announced it will release its third quarter fiscal year 2021 results on September 13, 2021. These results will cover the three-month and nine-month periods ending on July 31, 2021. A conference call will be held on the same day at 10:00 a.m. Eastern Time, with participation options for U.S. and international callers. A replay will be accessible until September 20, 2021. OCC specializes in fiber optic and copper data communication cabling and solutions for various markets.